{"id":7071,"date":"2026-09-14T12:27:41","date_gmt":"2026-09-14T12:27:41","guid":{"rendered":"https:\/\/www.paytmmoney.com\/blog\/?p=7071"},"modified":"2026-09-14T12:27:41","modified_gmt":"2026-09-14T12:27:41","slug":"jindal-supreme-ipo-review","status":"publish","type":"post","link":"https:\/\/www.paytmmoney.com\/blog\/jindal-supreme-ipo-review\/","title":{"rendered":"Jindal Supreme IPO Review: Key Details, Company Overview & Financials"},"content":{"rendered":"

Jindal Supreme IPO is a \u20b9124.88 crore book-built issue comprising a fresh issue of 1.07 crore shares worth \u20b999.89 crores and an offer for sale of 26.87 lakh shares aggregating to \u20b924.99 crores. <\/span>The IPO<\/span><\/a> will be open for subscription from September 16, 2026, to September 18, 2026. The allotment is expected to be finalized on September 21, 2026, while the equity shares are scheduled to be listed on NSE and BSE on September 23, 2026.<\/span><\/p>\n

The price band has been fixed at \u20b988 to \u20b993 per share, with a lot size of 161 shares. At the upper price band, retail investors need to invest a minimum of \u20b914,973 for one lot. <\/span>Sarthi Capital Advisors Pvt. Ltd. is acting as the book-running lead manager, while Bigshare Services Pvt. Ltd. is the registrar to the issue.<\/span><\/p>\n

For detailed information on the company’s business, financials, risk factors, and the proposed utilisation of proceeds, investors should refer to the Jindal Supreme IPO <\/span>Red Herring Prospectus (RHP)<\/span><\/span><\/a> before making an investment decision.<\/span><\/p>\n

Company Overview<\/b><\/h2>\n

Established in March 1974, Jindal Supreme (India) Limited has more than five decades of experience in manufacturing and supplying steel pipes, tubes and related products for infrastructure and industrial requirements. Its product range includes Mild Steel (MS) black pipes and tubes, galvanized pipes, metal beam crash barriers and Galvanized Iron (GI) tubular poles. These products are manufactured in different sizes and specifications in accordance with applicable Indian Standards and serve a wide range of end-use sectors, including water supply and plumbing, construction, roads and highways, bridges, oil and gas, chemicals, agriculture and rural electrification.<\/span><\/p>\n

Over the years, the Company has broadened its product offerings to tap into emerging infrastructure demand. It entered the metal crash barrier segment in Fiscal 2025 with the production of W-beam and Thrie-beam barriers, which are primarily used in road safety and highway projects. In Fiscal 2026, it added GI tubular poles to its portfolio, catering to street lighting, electrification and other public infrastructure requirements. The Company operates mainly through a B2B model, supplying products directly to institutional and industrial buyers, including infrastructure contractors, as well as through its dealer network.<\/span><\/p>\n

Jindal Supreme operates a manufacturing facility in Hisar, Haryana, equipped with production mills, welding and galvanizing plants, along with supporting machinery. The facility also has an in-house maintenance workshop and testing infrastructure. Its dealer network is concentrated mainly across northern India, with the Company focusing on expanding its reach and increasing business volumes from existing dealers.<\/span><\/p>\n

IPO Details<\/b><\/h2>\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Particulars<\/th>\nDetails<\/th>\n<\/tr>\n<\/thead>\n
IPO Date<\/td>\n16 to 18 Sep, 2026<\/td>\n<\/tr>\n
Allotment<\/td>\nMon, Sep 21, 2026<\/td>\n<\/tr>\n
Listing Date<\/td>\nWed, Sep 23, 2026<\/td>\n<\/tr>\n
Face Value<\/td>\n\u20b910 per share<\/td>\n<\/tr>\n
Price Band<\/td>\n\u20b988 to \u20b993 per share<\/td>\n<\/tr>\n
Lot Size<\/td>\n161 Shares<\/td>\n<\/tr>\n
Issue Type<\/td>\nBookbuilding IPO<\/td>\n<\/tr>\n
Sale Type<\/td>\nFresh capital cum OFS<\/td>\n<\/tr>\n
Total Issue Size<\/td>\n1,34,28,000 shares (agg. up to \u20b9125 Cr)<\/td>\n<\/tr>\n
Fresh Issue<\/td>\n1,07,41,149 shares (agg. up to \u20b9100 Cr)<\/td>\n<\/tr>\n
Offer for Sale<\/td>\n26,86,851 shares of \u20b910 (agg. up to \u20b925 Cr)<\/td>\n<\/tr>\n
Shareholding Pre-Issue<\/td>\n4,02,82,620 shares<\/td>\n<\/tr>\n
Shareholding Post-Issue<\/td>\n5,10,23,769 shares<\/td>\n<\/tr>\n
Listing Exchange<\/td>\nBSE, NSE<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

(Compiled from RHP and market updates)<\/span><\/i><\/span><\/p>\n

Industry Context<\/b><\/h2>\n
    \n
  • The Indian steel pipes and tubes market was estimated at USD 14,415.83 million in 2026 and is projected to reach approximately USD 23,932.99 million by 2036, registering a CAGR of 5.20%.<\/span><\/li>\n
  • Domestic steel pipes and tubes production increased from 5.90 MT in FY2020-21 to 13.80 MT in FY2025-26, while consumption rose from 5.41 MT to 12.32 MT, representing CAGRs of approximately 18.5% and 17.9%, respectively.<\/span><\/li>\n
  • Infrastructure expansion, water supply and sanitation programmes, oil and gas networks, industrial capex and construction activity are key growth drivers for the industry. Initiatives such as the National Infrastructure Pipeline, Jal Jeevan Mission, AMRUT 2.0 and Pradhan Mantri Krishi Sinchayee Yojana are expected to support demand for steel pipes and tubes.<\/span><\/li>\n
  • India’s steel pipes and tubes exports increased from 0.99 MT in FY2020-21 to 2.15 MT in FY2025-26, indicating growing participation in international markets. Indian manufacturers are increasingly serving markets across the Middle East, Southeast Asia and Africa, supported by cost competitiveness and adherence to international quality standards.<\/span><\/li>\n
  • The industry is gradually moving beyond commodity products towards higher-value and specialised pipes. Demand is increasing for galvanized and coated pipes, structural hollow sections and specialised products used in infrastructure, renewable energy, oil & gas and industrial applications. Automation, advanced coatings and process modernisation are also expected to improve efficiency and product quality.<\/span><\/li>\n<\/ul>\n

    Business Strengths<\/b><\/h2>\n
      \n
    • Strong relationships with dealers and customers provide the Company with an established distribution network, supporting market reach, repeat business and opportunities for volume growth.<\/span><\/li>\n
    • Its manufacturing facility in Hisar, Haryana, provides operational advantages and supports efficient production, while its location enables the Company to serve key northern Indian markets.<\/span><\/li>\n
    • An experienced promoter group and professional management team bring industry knowledge and operational expertise, supporting the Company\u2019s growth strategy and execution across its business segments.<\/span><\/li>\n
    • The Company manufactures steel pipes, tubes, galvanized products, crash barriers and GI tubular poles, reducing dependence on a single product category and serving multiple infrastructure applications.<\/span><\/li>\n
    • With more than five decades of experience in steel pipes and tubes manufacturing, the Company has built industry expertise and maintained a track record of healthy financial performance.<\/span><\/li>\n<\/ul>\n

      Business Risks<\/b><\/h2>\n
        \n
      • Steel coils account for a significant portion of raw material costs, and fluctuations in HRC and CRC prices could increase expenses, compress margins and adversely affect profitability.<\/span><\/li>\n
      • The Company competes with several established domestic manufacturers on product quality, pricing, delivery and customer relationships, which could create pricing pressure and affect market share.<\/span><\/li>\n
      • The Company\u2019s products serve infrastructure, construction and related sectors; any slowdown in government spending, industrial activity or infrastructure development could adversely impact demand and revenues.<\/span><\/li>\n
      • Manufacturing involves exposure to extreme heat, fire and other workplace hazards, while operational disruptions, equipment issues or safety incidents could affect production, employee safety and business continuity.<\/span><\/li>\n
      • The Company has relatively higher leverage compared with certain listed peers and had borrowings of \u20b99,246.07 lakhs as of June 30, 2026, requiring continued balance-sheet strengthening.<\/span><\/li>\n<\/ul>\n

        Financial Performance<\/b><\/h2>\n

        Jindal Supreme Ltd. – Financials (\u20b9 in Lakhs)<\/b><\/h3>\n

        <\/p>\n

        \n\n\n\n\n\n\n\n\n\n\n\n
        Particulars<\/th>\nFiscal 2026<\/th>\nFiscal 2025<\/th>\nFiscal 2024<\/th>\n<\/tr>\n<\/thead>\n
        Revenue from Operations<\/td>\n67,538.72<\/td>\n58,639.93<\/td>\n64,543.98<\/td>\n<\/tr>\n
        EBITDA<\/td>\n4,162.90<\/td>\n2,592.17<\/td>\n2,110.86<\/td>\n<\/tr>\n
        EBITDA Margin (%)<\/td>\n6.16%<\/td>\n4.42%<\/td>\n3.27%<\/td>\n<\/tr>\n
        Profit \/ (Loss) After Tax (PAT)<\/td>\n2,252.91<\/td>\n2,426.84<\/td>\n1,287.28<\/td>\n<\/tr>\n
        PAT Margin (%)<\/td>\n3.33%<\/td>\n4.01%<\/td>\n1.98%<\/td>\n<\/tr>\n
        Return on Capital Employed (ROCE) (%)<\/td>\n16.78%<\/td>\n22.37%<\/td>\n13.92%<\/td>\n<\/tr>\n
        Return on Equity (%)<\/td>\n26.28%<\/td>\n38.85%<\/td>\n27.98%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

        <\/p>\n

        \u2190 Swipe horizontally to view full table \u2192<\/div>\n